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XCEL Chapter 11 - Laws and Rules (new) fully solved & verified for accuracy 2025
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XCEL Chapter 11 - Laws and Rules (new) fully solved & verified for accuracy 2025
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XCEL Chapter 11 - Laws andRules (new) fully solved &
verified for accuracy
2025(GUARANTEED
SUCCESS)
When is an existing health insurance policy required to provide
coverage for a newborn child? - answer Immediately
When must a claim on a life insurance policy be paid after proof of
loss has been received by the insurer? - answer Promptly
Who is required to notify the producer in the event of appointment
termination? - answer Insurer
A domestic insurance company in Maryland MUST - answer be
formed under Maryland insurance laws
which of the following is an example fraud? - answer A producer
who knowingly submits a false statement in support of a claim
A Long-Term Care policy may only exclude pre-existing conditions for
up to ___ months. - answer 6
who is eligible for insurance under a group policy issued to a labor
union? - answer Every member of that union
,Which license is REQUIRED in order to solicit Long Term Care
insurance in the State of Maryland? - answer Health Insurance
Producer License
A producer MUST maintain insurance transaction records for a
minimum of ___ years. - answer 5
a producer's license must be renewed every ___ year(s). - answer 2
An example of rebating is - answer a producer who shares
commissions with a client
ABC Insurance Agency is entering each applicant who purchases
insurance through their agency into a drawing to win a free trip.
This is an unlawful insurance practice known as - answer illegal
inducement
Which of the following actions by a producer would NOT result in a
license suspension or revocation? - answer Producing an inadequate
amount of new premium
A dependent child may remain on a parent's health insurance plan
beyond age 26 if the child - answer has a mental or physical
handicap and remains dependent on the parent
Proceeds payable under a life insurance contract to a policyowner in
anticipation of death or upon the occurrence of specified life-
threatening conditions as defined by the policy are best described
as: - answer accelerated benefits
Producer commissions may NOT be paid to - answer licensed
producers not appointed by an insurer
, A(n) _______ insurance company is one that was formed under the
laws of another country outside of the U.S. - answer alien
When a producer is replacing an existing ordinary life insurance
policy, the producer must take all of the following actions EXCEPT -
answer obtain the beneficiary's signature
If an insurer refuses to pay a claim, how many days must the
insured wait to take legal action against a health insurer after
submitting written proof of loss? - answer 60
Prior to conducting an HIV-related test, the insurer must obtain a(n)
- answer written authorization from the proposed insured
A minor may receive a life insurance policy's death benefit ONLY -
answer if the minor has an appointed guardian
The Fair Credit Reporting Act protects consumers - answer with
guidelines regarding credit reporting and distribution
A life policy loan in Maryland cannot charge a fixed rate of interest
higher than - answer 8%
How many days notice must the Commissioner give prior to a
hearing? - answer 10 days
A Buyer's Guide MUST - answer have it's content approved by the
commissioner
as of January 1, 2014, small group health insurance can be rated on
the basis of - answer Tobacco use
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